Xencor (NASDAQ:XNCR) Stock Jumps 4.6% – Still a Buy?

Xencor, Inc. (NASDAQ:XNCR) shares were up 4.6% during mid-day trading on Monday. The stock traded as high as $24.66 and last traded at $24.8920. Approximately 290,326 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 949,940 shares. The stock had previously closed at $23.80.

Analysts Set New Price Targets

Several brokerages recently weighed in on XNCR. Truist Financial restated a “buy” rating and issued a $29.00 price target (up from $27.00) on shares of Xencor in a research note on Monday. Wall Street Zen upgraded shares of Xencor from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. Raymond James Financial boosted their target price on shares of Xencor from $40.00 to $46.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 1st. Royal Bank Of Canada raised their price target on shares of Xencor from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Finally, Cantor Fitzgerald raised their target price on Xencor from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Xencor currently has an average rating of “Moderate Buy” and an average price target of $31.38.

Xencor Stock Up 7.3%

The company’s 50-day moving average is $23.78 and its 200-day moving average is $16.66. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -11.77 and a beta of 0.88.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.80) by $0.51. The business had revenue of $51.22 million during the quarter, compared to analysts’ expectations of $18.89 million. Xencor had a negative net margin of 155.59% and a negative return on equity of 28.66%. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.41) EPS. Sell-side analysts anticipate that Xencor, Inc. will post -3.05 EPS for the current year.

Hedge Funds Weigh In On Xencor

Several large investors have recently made changes to their positions in XNCR. WINTON GROUP Ltd lifted its stake in Xencor by 1.5% during the 2nd quarter. WINTON GROUP Ltd now owns 106,247 shares of the biopharmaceutical company’s stock worth $1,711,000 after acquiring an additional 1,534 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Xencor during the second quarter worth about $30,000. Squarepoint Ops LLC purchased a new stake in Xencor during the second quarter worth about $459,000. Allworth Financial LP increased its stake in Xencor by 23.2% during the 2nd quarter. Allworth Financial LP now owns 3,436 shares of the biopharmaceutical company’s stock worth $55,000 after buying an additional 646 shares during the period. Finally, Seven Fleet Capital Management LP boosted its holdings in Xencor by 360.4% in the second quarter. Seven Fleet Capital Management LP now owns 368,305 shares of the biopharmaceutical company’s stock valued at $5,930,000 after purchasing an additional 288,305 shares during the period.

About Xencor

Xencor, Inc is a clinical-stage biopharmaceutical company that develops engineered antibodies and cytokine therapeutics for the treatment of cancer, autoimmune diseases and other serious medical conditions. The company’s platform is designed to modify antibody properties, including immune-system activation, half-life and biological activity, to create differentiated therapeutic candidates.

Xencor’s proprietary XmAb technology supports its internal research programs and collaborations with other biopharmaceutical companies.